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Seoul stocks open tad higher following Wall Street gains

Seoul stocks opened slightly higher Friday following overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index gained 3.91 points, or 0.19 percent, to 2,035.82 in the first 15 minutes of trading.

US stocks rose Thursday (local time) on hopes that the US Federal Reserve may lower interest rates following signs of a slowing economy. The Dow Jones industrial average climbed 0.47 percent to close at 26,201.04. 


In Seoul, large caps traded mixed, though tech and chemical shares had a solid start.

Market kingpin Samsung Electronics rose 0.74 percent, and No. 2 chipmaker SK hynix advanced 1.13 percent. 

Leading chemical firm LG Chem climbed 1.52 percent, while South Korea's top refiner SK Innovation added 0.62 percent.

Top carmaker Hyundai Motor remained flat, but its sister company Kia Motors dived 1.47 percent.

The local currency was trading at 1,201.10 won against the US dollar, up 4.90 won from the previous session's close. (Yonhap)